10-QPeriod: Q2 FY2013

XCEL ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2013

Filed August 2, 2013For Securities:XELXELLL

Summary

Xcel Energy Inc. reported solid financial results for the six months ended June 30, 2013, with net income of $433.4 million, an increase of 18.1% compared to the same period in 2012. This growth was driven by higher electric and natural gas revenues, primarily due to rate increases and favorable weather conditions. The company's operating income also saw a significant increase, reflecting effective cost management and increased operational efficiency. Investing activities saw a substantial increase in capital expenditures, largely focused on utility infrastructure improvements and expansion. Despite increased investment, the company's financial position remains strong, supported by robust operating cash flows and proactive financing activities, including long-term debt and equity issuances. Management is focused on navigating regulatory proceedings across its various operating jurisdictions, which are crucial for future revenue and earnings growth.

Financial Highlights

46 data points
Beta

Revenue

$2.58B

Net Income

$196.86M

0.1% Net Margin

EPS (Diluted)

$0.40

Total Assets

$32.27B

Cash & Equivalents

$58.82M

Free Cash Flow

$431.90M

Financial Statements
Beta
Revenue$2.58B
Operating Expenses$2.18B
Operating Income$402.24M
Interest Expense$146.85M
Net Income$196.86M
EPS (Basic)$0.40
EPS (Diluted)$0.40
Shares Outstanding (Basic)497.75M
Shares Outstanding (Diluted)498.04M

Key Highlights

  • 1Net income increased by 18.1% to $433.4 million for the six months ended June 30, 2013, compared to $366.9 million in the prior year.
  • 2Total operating revenues grew by 10.5% to $5.36 billion for the first six months of 2013, driven by higher electric and natural gas revenues.
  • 3Operating income rose by 9.2% to $856.9 million for the first six months of 2013.
  • 4Utility capital/construction expenditures significantly increased to $1.6 billion for the first six months of 2013, up from $1.1 billion in the prior year, indicating ongoing investment in infrastructure.
  • 5The company successfully issued $1.34 billion in long-term debt and $227 million in common stock during the first six months of 2013 to fund operations and investments.
  • 6Significant ongoing regulatory proceedings across various states (Minnesota, North Dakota, Wisconsin, Colorado, Texas, New Mexico) are noted, which will impact future rate structures and revenue.
  • 7Diluted EPS increased to $0.88 for the first six months of 2013, up from $0.75 in the same period of 2012.

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